Year-end giving can offer a fantastic opportunity to support causes you value while also reducing your tax burden. By submitting eligible donations to qualified charities, you can potentially diminish your federal revenue. Consult with a financial advisor to figure out the best tactics for your unique circumstances and maximize the tax benefits of
Details, Fiction and how much to donate for tax purposes
"That will let you decrease your taxable income," claims Ed Slott, a CPA who educates monetary advisers on IRA and retirement planning techniques. It's also possible to declare a charitable deduction, assuming you can itemize during the calendar year you donate. It’s that point of calendar year when taxpayers are thinking of how they would like